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Tuesday, Oct 15
More on Intel: Q4 revenue guidance light, Q3 gross margin strong
- Intel (INTC) expects Q4 revenue of $13.7B (+/- $500M) vs. a consensus of $14.02B. The company's 2013 capex guidance has been lowered again, this time to $10.8B (+/- $300M) from $11B (+/- $500M).
- Q4 guidance is said to reflect the caution Intel is seeing in customer order patterns, as well as their efforts to "keep inventory levels lean."
- Q3 gross margin was 62.4%, +410 bps and -90 bps Y/Y, and above a guidance midpoint of 61%. Gross margin is expected to come in at 61% (+/- 2%) in Q4.
- PC CPU division sales +4% Q/Q and -3% Y/Y to $8.4B. ASPs flat Q/Q and +1% Y/Y.
- Server CPU division sales were healthy, +6% Q/Q and +12% Y/Y to $2.9B. ASPs +2% Q/Q and +8% Y/Y.
- Other Intel architecture (inc. Atom) +13% Q/Q and -9% Y/Y to $1.1B. Software/services +2% Q/Q and +6% Y/Y.
- $500M spent on buybacks, down from $550M in Q2.
- INTC +1.1% AH. CC at 5PM ET.
- Q3 results, PR, CFO comments.